The Ethereum staking ecosystem has recently undergone a major shift in its landscape. The previously accumulated exit queue reached a peak of 2.67 million ETH in September 2025, but has now been completely cleared, with holders' willingness to exit dropping sharply. In contrast, validators eager to stake are flooding in, with the queue skyrocketing more than fivefold in just one month, now approaching 2.6 million ETH (specifically 2.5978 million ETH), hitting a new high since July 2023. New participants wanting to join need to wait in line for 45 days before going online.

How to interpret this reversal? It's simple—market confidence has surged dramatically. Both institutions and retail investors are rushing in madly, solely to earn staking rewards (currently about 2.8% annualized), and are less interested in exiting. But don't get too optimistic; ETH price movements are influenced by many factors, and staking data is just one piece of the puzzle. A comprehensive assessment is necessary.